At PwC, we are convinced that the infrastructure sector is one of the critical success factors of our country's economic recovery, capable of ensuring long-term sustainable development.
The infrastructure sector, thanks to its multiplier effect on the induced generated and employment levels activated, is one of the key sectors on which to focus government policies, available financial resources, and the best entrepreneurial skills. The availability of public and private, European and national sources can be the initiator, but seizing this opportunity requires the definition of a medium-long term strategy, the construction of a solid pipeline of projects, the enhancement and evolution of human capital with new skills and the exploitation of the potential of the digital revolution.
Our infrastructure system is built in a highly complex area, the management of problems related to hydrogeological instability is an absolute priority, as we have over 30,000 major works of art (such as bridges, viaducts, and tunnels) with an average age of 40 years. This sector needs a physical and technological upgrade that can no longer wait. The launch of a major infrastructure investment programme in Italy, the most important since the post-war reconstruction period, is, therefore, the key to driving the recovery phase.
We are confident that this is the way forward if we are to return to growth, and so we have been investing time and resources to be ready to support our clients in the challenges ahead.
We have identified 4 priorities for action, aimed at unlocking the potential of a strategic sector that can and should be a driver of the country's economic and social recovery:
Defining investments by freeing up substantial public and private resources
Economic recovery requires national policymakers to rapidly identify and implement the reforms needed to channel financial resources into infrastructure investments aligned with national and European policy objectives (e.g. modernisation of the country, ecological transition, inclusion and resilience, sustainability).
It is of fundamental importance to carry out proper financial planning, defining the public and private sources that can be activated, and release them promptly, through the definition of eligible projects that enhance value, such as sustainability, security, and digital innovation. There is an opportunity to use the resources of the Recovery Fund, of which Italy is the main beneficiary. Most of the funds will need to be spent by 2026, and this requires the definition of clear priorities for intervention and a necessary change in the approval processes and implementation of the works, which in Italy generally take much longer.
Italian Renaissance: rebuilding a key sector with strong and resilient players
The continuous reduction of the domestic market and the concomitant reduction of margins, also due to competition and to a small and uncertain pipeline of large infrastructure projects, has contributed to the collapse of historic national players, to the loss of competitiveness of the sector, and has caused a crisis that has now lasted for more than a decade.
Crisis has amplified difficult situations in the sector, triggering the need for transformation as well as aggregations to benefit from economies of scale and market synergies, and to increase the size and resilience of Italian construction companies in Italy. The launch of a major infrastructure investment programme and the support and financing from the financial system represents a major opportunity that sector players will have to be able to seize. The implementation of an investment programme for the next 5 years, which is more than twice what Italy has achieved in the last decade, poses an issue, a future demand for professional services and work much higher than the current production capacity of the country. This threat can be transformed into an opportunity for development and qualified work for the Italian business system if they can demonstrate flexibility, resilience, and readiness to rapidly deploy the required production capacity.
Implementing sustainable projects throughout the life cycle
In 2015, the United Nations General Assembly established the 17 global Sustainable Development Goals (SDGs). To pursue these goals, infrastructures, which are fundamental works for the development and competitiveness of the country system, must be conceived, designed, and built from a holistic and sustainable perspective, from an economic, financial, social, and environmental point of view, guaranteeing a benefit for the community, and enhancement of the territory and greater competitiveness for local businesses.
The definition of sustainable projects throughout the entire life cycle cannot disregard the involvement of all those directly or indirectly affected, i.e. active management of the stakeholder engagement process and dynamic monitoring of impacts, aimed at creating a widespread consensus network around the works.
Unlocking the potential of digitisation and new technologies to increase security and recover productivity
Sfruttare a pieno il potenziale della rivoluzione digitale, in un settore caratterizzato da una stagnazione decennale della produttività, rappresenta il principale ambito sul quale investire per tutti gli attori del comparto, per essere in grado di cogliere le opportunità che si prospettano e vincere le complesse sfide economiche, sociali ed occupazionali.
Il solo utilizzo di nuove tecnologie senza la definizione di nuovi sistemi di gestione basati sull’integrazione dei processi e delle soluzioni software in uso, non sarà sufficiente a supportare e valorizzare la trasformazione digitale. Diviene quindi centrale l’utilizzo di un approccio di gestione integrato abbinato alle tecnologie per la pianificazione ed il controllo dei progetti, nonché al monitoraggio dinamico degli asset e delle condizioni di esercizio, volto al recupero di efficienza e all’incremento degli standard di sicurezza.
The Role of the Infrastructure Task Force
Where we started from
The "reading" of the current scenario, the skills acquired in the field by working alongside the main players in the sector and the desire to support the country for a rapid recovery post crisis era and long-term sustainable development, led to the establishment of a Task Force dedicated to Infrastructure.
What is the Infrastructure Task Force?
A multidisciplinary and integrated team, led by 15 Partners and composed of +200 professionals, economists, engineers and experienced professionals in digital & technology, lawyers and accountants.
Objectives
To understand the challenges facing the sector, anticipate its transformation needs and support the main players - regulators, public and private financiers, contracting authorities and contractors - in the management of the entire project lifecycle.
Our Framework
Operation & Maintenance
Infrastructure managers need to quickly adapt their organisation, business processes, monitoring and control systems, enhancing their human capital, supply chain and the impact generated on the territory and the economic system, exploiting the opportunities of digital transformation and new technologies to ensure safe, efficient, smart and sustainable asset management throughout the entire lifecycle.
Infrastructure Asset Management
For better control and care of our infrastructures.
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